China's retirement system refers to a policy and system implemented to ensure that workers can obtain basic living security after retirement, and with the intensification of China's population aging and the demand for social and economic development, the importance of the pursuit system in China is becoming increasingly prominent.China's pension system is mainly divided into two parts: social basic pension insurance and enterprise annuity, social basic pension insurance is a national system, managed and implemented by the state to cover all the staff participating in the basic pension insurance for employees, enterprise annuity is set up on the basis of enterprise voluntariness, due to the relatively small number of participants, there are certain limitations to the coverage of the entire pension system at this stage.
At present, China's pension system is still facing some challenges, the most prominent of which is the increase in the pension gap and the sustainability of long-term payments. Actively promote the multi-level development of pensions, encourage and gradually promote the enterprise annuity system, in order to reduce the burden of pensions and improve the level of pension security. China's retirement age is the statutory retirement age and flexible retirement age, the current legal retirement age in China is 60 years old for men, 55 years old for women, but with the continuous intensification of time, with the severe situation of China's aging population and the continuous improvement of people's living standards, some people believe that the retirement age should be gradually increased to reduce the burden of pension and extend the supply period of labor.
Everyone needs to deal with the problem of retirement, but the quality of life after retirement varies from person to person, some people can enjoy a very generous pension after retirement, and everyone receives a pension every month can only basically maintain their lives, what factors determine the amount of pension?
The pension is based on the insurance participant's contribution period and payment level, as well as the average social salary and other factors, through the determination of the formula to obtain the monthly income after retirement, and the specific calculation formula is as follows:
Retirement pension = basic pension + personal account pension + transitional pension.
Basic pension = p 1 + i) 2 n 1%.
Among them, P represents the average monthly salary of local on-the-job employees in the previous year of retirement, and I represents the average of the contribution index of the person over the years.
Retirement pension in personal account = total savings in personal account Number of months accrued.
Transitional pension = the average number of years of the individual's contribution index x the average income of the local society x the current number of years of contribution in the comprehensive account x 12%.
The transitional pension is to ensure the pension level of the elderly who participated in the work before 1996, and the specific implementation method may be linked to the economy and finance in various regions, so it is different.
For every retired worker, the audit information for retirement procedures often needs to go to multiple units for processing, and recently China's education department clearly stipulates that in order to allow the elderly to enjoy the pension level as soon as possible, the education department will decide that retirees as long as they go to China's social security bureau to obtain the labor appraisal committee, handle it once can receive a pension, some retirees with 41 years of service said that they just went through the retirement procedures last month, but they did not expect the pension to arrive immediately, this status quo makes the people's teachers really envious。
The processing time of retirement procedures will be determined due to regional and policy differences, and it may take longer to handle retirement procedures in some cities, because the local social security department needs to review more materials and information, in addition, some areas may have stricter approval standards, which require more time to process, so some people's teachers even need to handle two months when handling retirement procedures.
In addition to the region and policy, if the information provided by the people's teacher when going through the retirement procedures is incomplete or there are certain errors, it may lead to an extension of the approval time, in this case, you may wish to wait patiently for a period of time, or contact the local social security department to inquire about the progress.